Sign up Australia
Proactive Investors - Run By Investors For Investors

Carnarvon Petroleum expects to start drilling for gas and liquids at Dorado-1 by end of May

The primary objective of the well is to assess the gas and liquids potential in the Caley Member.
Rig to be used on Dorado-1 well
The Ensco 107 jackup drilling rig is on its way from Singapore to the North West Shelf

Carnarvon Petroleum Limited (ASX:CVN) and Quadrant Energy expect to start drilling the Dorado-1 well targeting gas and liquids on the North West Shelf by the end of May.

The Ensco 107 jackup drilling rig has left Singapore and is heading to the Dorado location off Western Australia’s northwest coast.

It will be the second well in the current program of Carnarvon and Quadrant with drilling at the nearby Phoenix South-3 well now underway.

READ: Carnarvon Petroleum enters 2018 with multiple share price catalysts

The primary objective of the Dorado-1 well is to assess the gas and liquids potential in the Caley Member.

It will be less than 20 kilometres from and up-dip of the successful Roc-1 and Roc-2 wells.

The Roc-2 well also tested the deliverability of the reservoir through a well test that achieved around 55 million scf per day of gas and an associated condensate rate of 3,000 barrels per day.

On location by mid-May

Carnarvon expects the rig to be on location by mid-May with drilling to start by the end of the month.

It is expected to take around 60 days to complete and be at the top of the primary objective in around 35 days.

READ: Carnarvon Petroleum on track with Phoenix South-3 drilling program

Based on the results at Roc and Phoenix South, Dorado is considered as a probable gas prospect, with significant associated condensate.

There is also the possibility for the structure to contain a substantial oil accumulation.

This is due to the known presence of oil-prone source-rocks in the section at Roc, and the possibility that gas at Roc has displaced the oil up-dip into Dorado.

Up-dip of Roc discoveries

As the Dorado-1 well will be up-dip of the Roc discoveries, the overall chance of success of this prospect is enhanced.

The Dorado structure at the Caley interval is estimated to contain a gross mean recoverable prospective resource of 545 Bscf of gas and 30 million barrels of associated condensate, which is equivalent to 125 million barrels of oil.

Seismic line showing the incised Dorado Canyon which defines the Dorado trap.

Secondary targets

Multiple secondary targets have been identified in the Crispin and Milne members, and these will also be assessed by the Dorado-1 exploration well.

The Dorado structure is clearly defined on 3-D seismic.

A shale-filled canyon, the Dorado Canyon, which has incised into the Caley and Milne sediments, creates a large trap geometry in the target levels, bounded to the west, south and east.

Similar shale-filled canyon trap geometries have proven effective in a number of gas fields in Victoria’s Gippsland Basin.

View full CVN profile View Profile

Carnarvon Petroleum Ltd Timeline

Related Articles

drill rig
August 31 2018
Multiple highly attractive development projects in shallow water on the North West Shelf of Western Australia.
Texas flag
September 04 2018
Well workovers in June boosted average gross production before royalties to around 44 barrels of oil per day
offshore oil rig
May 08 2018
Life has been tough in the oil sector in recent years, but things started to pick up towards the end of 2017

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use